Small cap company engaged in garments & apparels industry, Kitex Garments Ltd shares today hit 5.00% upper circuit after it issued allotment update for bonus shares. Current trading price of Kitex Garments shares on Bombay Stock Exchange (BSE) is Rs 256.35 apiece. The company on November 11, 2024 recommended issue of bonus equity shares in the ratio of 2:1 implying 2 new bonus shares for every 1 share held as on the record date.
The company fixed January 17, 2025 as the record date for deciding eligibility of shareholders entitled for bonus shares. The company has a market capitalisation of Rs 5,114.18 crore and its Return on Equity (ROE) is 11.43. Check key details given below:
Kitex Garments Issues New Allotment Update
As per the exchange filing of Kitex Garments Ltd issued as on January 20, 2024, “Board of Directors of Kitex Garments Limited (“the Company”) at its meeting held today i.e., January 20, 2025, has allotted 13,30,00,000 fully paid-up Bonus Equity Shares of the face value of Re 1/- (Rupee One only) each in the ratio of 2:1, i.e, 2 (Two) new Bonus Equity Shares of Re 1/- each for every 1 (One) existing Equity Shares of Re 1/- each fully paid-up, held by the shareholders of the Company as on the record date i.e., Friday, January 17, 2025.”
Consequent to the aforesaid allotment, the paid-up equity share capital of the Company stands increased to Rs 19,95,00,000 divided into 19,95,00,000 equity shares of Re 1/- each. The Bonus Equity Shares allotted as above shall rank pari-passu in all respect and carry the same rights as the existing equity shares of the company including dividends and other corporate benefits, if any, declared by the Company after the said allotment, added the exchange filing of the small cap firm.
Kitex Share Price Performance
The 52-week high price of Kitex Garments share on BSE is Rs 299.70 per share (as on 16/12/2024) and 52-week low price is Rs 58.87 per share (as on 04/06/2024), respectively. Kitex Garments shares offered 16.85% in last 1-week only, gave multibagger returns of 253.44% in last 6-months, and zoomed 314% in last 2-years.
Kitex Garments Financials
The company declared its net sales at Rs 215.88 crore for the September 2024 quarter, up 61% as compared to Rs 133.96 crore reported in the corresponding quarter of last year. It announced its quarterly net profit at Rs 37.34 crore for the quarter under consideration, up 126.81% as against Rs 25.55 crore in September 2023. Kitex announced EBITDA at Rs 57.95 crore for September 2024, up 126.81% from Rs 25.55 crore reported in the similar quarter of last year. Its EPS zoomed to Rs 5.61 for September 2024 quarter from Rs 2.00 in September 2023.
Kitex Garments About
The company was established in 1992. It caters to leading conglomerates in USA and Europe. It started with INR 1.8 Crores turnover in the year 1995-96. Kitex has now grown to a turnover of over INR 524 Crores in 2014-15. The company is currently the second largest producer of children’s apparel in the world. It is also in the process of setting up operations in the United States of America, according to its official website.
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